Similarly, the Bush administration's efforts to advance other important Latin America policy initiatives -- including Senate approval of trade promotion authority, renewal of the Andean Trade Preferences Act, and an immigration deal granting amnesty to millions of Mexicans and Central Americans living illegally in the United States -- also are likely to be delayed this year by partisan bickering. In fact, the Bush administration may have as much, if not more, difficulty selling trade and immigration initiatives to some Republicans in Congress this year as it will have with Democrats.
While the Bush administration is distracted by election-motivated tussles over Latin America policy, the economic and political crises in Argentina, Colombia and Venezuela likely will get much worse. Three of Latin America's most significant economies are under extraordinary duress and at great risk of a near total collapse of their democratic institutions and procedures.
Moreover, it is also likely that this deterioration will become more pronounced across the region -- especially in countries like Bolivia, Brazil and Ecuador, where presidential elections are scheduled in June and October.
Argentina's economic crisis is now so severe that even if the International Monetary Fund comes to its swift aid with billions of dollars in fresh loans, which is unlikely, its economy will shrink by up to 15 percent, unemployment will shoot above 30 percent and a hyperinflationary burst likely will trigger violent social disturbances in coming months.
While the Bush administration is distracted by election-motivated tussles over Latin America policy, the economic and political crises in Argentina, Colombia and Venezuela likely will get much worse. Three of Latin America's most significant economies are under extraordinary duress and at great risk of a near total collapse of their democratic institutions and procedures.
Moreover, it is also likely that this deterioration will become more pronounced across the region -- especially in countries like Bolivia, Brazil and Ecuador, where presidential elections are scheduled in June and October.
Argentina's economic crisis is now so severe that even if the International Monetary Fund comes to its swift aid with billions of dollars in fresh loans, which is unlikely, its economy will shrink by up to 15 percent, unemployment will shoot above 30 percent and a hyperinflationary burst likely will trigger violent social disturbances in coming months.